IBERSOL | Annual Report 2021

LEGALCERTIFICATIONOFACCOUNTSANDAUDITREPORTONCONSOLIDATEDFINANCIAL INFORMATION 3  We have reviewed the assumptions used, such as inflation, projected economic growth and discount rates, and assessed their reasonableness and consistency, where applicable, for the various assets in the different locations and segments, and have also assessed the impacts of alternative scenarios;  We have tested the integrity and mathematical accuracy of the discounted cash flow model;  We have carried out sensitivity analyses to changes in the relevant assumptions used;  We have involved our experts in order to assess the discounted cash flow model and the average cost of capital rate considered in the valuations made by the Group; and  We have assessed the adequacy of the respective disclosures to the financial statements, in accordance with the applicable accounting framework. Measurement of right-of-use assets (138,871,151 euros) and lease liabilities (143,068,334 euros) See Note 2.19 of the Main accounting policies, note 4.c) of the Main accounting estimates and judgments and notes 7, 17.2, 23 and 25 to the consolidated financial statements. The Risk Our response to the identified risk The measurement of right-of-use assets and lease liabilities, namely in relation to new leases and lease modifications, involves significant amounts, given the Group's large number of leases, and entails management judgements regarding lease term and discount rates. Law 13/2021 of October 2021 introduced changes to the terms and conditions of lease agreements of commercial spaces in airports managed by AENA. Such changes entailed complex and material accounting impacts on the financial statements in 2021. Our audit procedures included amongst others, those that we describe below:  We have assessed the design and implementation of the main controls implemented by the Group in this area and the adequacy of the accounting policies adopted, considering the requirements and practical expedients foreseen in the standard;  We have tested the completeness of the lease agreements and rent concessions;  We have validated the accounting impacts of the lease modifications other than those 428